Gritical thinking is a way of thinking in which companies look for opportunities to save in the long term and support future growth instead of short-term cuts. This pun was created during our campaign to promote effective and meaningful cost reduction.
Vigorous and hasty cuts tend to be effective in the short term, but in the future they can damage the company, limit its development and potentially deepen the economic crisis. Therefore, before companies proceed with such a solution, they should thoroughly analyze their costs and look for more efficient ways.
Examples of meaningful cost reduction include:
- time streamlining of existing processes,
- digitization and automation of repetitive activities (for example, document processing),
- negotiation of better conditions with suppliers,
- purchasing a smaller amount of stock,
- introduction of home office or remote work,
- shortening the maturity of invoices.